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2. Write down the Lagrangian for the consumer's optimisation problem, find the first order necessary conditions, and characterise the equilibrium (i.e., compute the op- timal

2. Write down the Lagrangian for the consumer's optimisation problem, find the first order necessary conditions, and characterise the equilibrium (i.e., compute the op- timal allocations and prices defined in the equilibrium). (2 marks)

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